More than 250 electronic auctions of foreclosed real estate – mostly by lien-holding banks – were scheduled for Wednesday, with 262 properties up for sale. All total, 2,018 auctions were already listed on an electronic platform operated by the notaries associations representing the greater Athens area and the Aegean islands – auctions that must be held by Oct. 10, 2018.
Traditional court-room auctions of foreclosed properties officially ended last Wednesday, although few such proceedings actually occurred over the past few months due to concerted protests by anti-austerity and anti-capitalist activists, followed by subsequent abstentions declared by notaries’ associations.
For March 2018 alone, 885 electronic auctions have been scheduled, which in many cases are auctions that were previously suspended or that failed to conclude.
More than 300 notaries have also registered for participation in the e-auction process.
Notaries in Greece are law school graduates who are subsequently licensed by the state. As legal professionals in Greece they specialize in drawing up all types of contracts, especially ones involving real estate transactions. They are also obligated to retain an archive of such contracts.
The presence of a notary at an auction in Greece is mandatory.
